Most Recent Articles In Fashion Scoops
Latest Fashion Scoops Articles
- Royals Gather for Christmas Day Service
- Cocteau Show Slated for the Pierre Bergé-YSL Foundation
- Urban Outfitters Announces First Female Ouside Director
More Articles By
ARDEN SHARES RISE: Shares of Elizabeth Arden Inc. rose 13.1 percent Thursday following reports that it hired Goldman Sachs to help it explore a sale of the company. A spokesman for Goldman declined comment, as did a spokeswoman for Arden.
The news that Arden might have hired a banker, first reported by Reuters, follows Wednesday’s disclosure by LG Household & Health Care Ltd. confirming that Arden is one of several possible acquisition targets of the Seoul-based firm. A spokeswoman for LG said Thursday that in response to a clarification request by the Korea Stock Exchange, the company said the “various M&A opportunities” are part of the firm’s “mid- to long-term growth strategy” and that there are no specific details that have been determined yet. It also gave May 22 as the estimated date for further update on the status of its review.
Shares of Arden closed at $36 in Nasdaq trading.